Castle Brands (ROX) Upgraded by Zacks Investment Research to Hold

Castle Brands (NYSEAMERICAN:ROX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Wednesday.

According to Zacks, “CASTLE BRANDS INC., is an emerging developer and international marketer of premium branded spirits within five growing categories of the spirits industry: vodka, rum, tequila, whiskey and liqueurs/cordials. Castle Brands’ portfolio includes Boru Vodka, Gosling’s Rum, Sea Wynde Rum, Tierras Tequila, Knappogue Castle Whiskey, Clontarf Irish Whiskey, Jefferson’s and Jefferson’s Reserve Bourbon, Sam Houston Bourbon, Celtic Crossing Liqueur, Pallini Limoncello, Raspicello and Peachcello and Brady’s Irish Cream. “

A number of other research firms also recently commented on ROX. Barrington Research increased their price objective on shares of Castle Brands from $1.80 to $2.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 3rd. TheStreet upgraded shares of Castle Brands from a “d+” rating to a “c-” rating in a research note on Tuesday, November 28th.

Castle Brands (ROX) opened at $1.28 on Wednesday. Castle Brands has a one year low of $0.65 and a one year high of $2.22.

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Castle Brands by 30.1% in the 2nd quarter. Vanguard Group Inc. now owns 3,841,633 shares of the company’s stock valued at $6,608,000 after purchasing an additional 889,189 shares during the period. Northern Trust Corp raised its holdings in shares of Castle Brands by 501.7% in the 2nd quarter. Northern Trust Corp now owns 973,335 shares of the company’s stock valued at $1,674,000 after purchasing an additional 811,570 shares during the period. State Street Corp bought a new stake in shares of Castle Brands in the 2nd quarter valued at about $1,669,000. EAM Investors LLC raised its holdings in shares of Castle Brands by 89.1% in the 2nd quarter. EAM Investors LLC now owns 772,792 shares of the company’s stock valued at $1,329,000 after purchasing an additional 364,209 shares during the period. Finally, Manatuck Hill Partners LLC raised its holdings in shares of Castle Brands by 15.4% in the 2nd quarter. Manatuck Hill Partners LLC now owns 750,000 shares of the company’s stock valued at $1,290,000 after purchasing an additional 100,000 shares during the period.

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About Castle Brands

Castle Brands Inc develops and markets premium and super premium brands in the beverage alcohol categories. The Company is engaged in the sale of premium beverage alcohol. Its beverage alcohol categories include rum, whiskey, liqueurs, vodka and tequila. Its brands include Gosling’s rum, Gosling’s Stormy Ginger Beer, Gosling’s Dark ‘n Stormy ready-to-drink cocktail, Jefferson’s bourbon, Jefferson’s Reserve, Jefferson’s Ocean Aged at Sea, Jefferson’s Wine Finish Collection, Jefferson’s The Manhattan: Barrel Finished Cocktail, Jefferson’s Chef’s Collaboration, Jefferson’s Wood Experiment, Jefferson’s Presidential Select, Jefferson’s Rye whiskey, Pallini liqueurs, Clontarf Irish whiskey, Knappogue Castle Whiskey, Brady’s Irish Cream, Boru vodka, Tierras tequila, Celtic Honey liqueur and Gozio amaretto.

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